This Terms & Conditions (this “Terms”) sets legally binding terms and conditions your access to and use of any websites, desktop applications or services (the “Services”) offered by Pay365 Store Private Limited. As (“ArthBit”). The “User” shall refer to any natural person. The features of the Site may be subject to additional guidelines, terms, or rules, which will be written on the Site. All such additional terms, guidelines, and rules are incorporated by reference into this Terms.
“ArthBit Exchange” refers to the holding company of ArthBit being Pay365 Store Private Limited (‘Company’), is incorporated under Companies Act 2013 of India and having its registered office at 178/4, Patparganj, New Delhi – 110091, India. By accessing, viewing or downloading information from the Website and using the Service provided by ArthBit you acknowledge that you have read, understood and unconditionally agreed to be bound by these Terms. ArthBit may at any time without notice amend these Terms. You agree to continue to be bound by any amended terms and conditions and that ArthBit has no obligation to notify you of such amendments. You acknowledge that it is your responsibility to check these Terms periodically for changes and that you’re continued use of the Website and Services offered by ArthBit following the posting of any changes to the Terms indicates your acceptance of any such changes.
1. ACCOUNTS:
Account Registration:
In order to utilize our services, you must first create a user account with us. Users must be at least 18 years old to register with us. An account will be issued once the relevant information required for registration is provided and the submitted information has been examined in accordance with the legal requirements. We request you provide the correct information while creating an account. If the information you provide turns out to be wrong or does not meet as per our requirements and guidelines, we reserve the right to terminate your account at any time.
Account Verification:
You agree to provide us with the information we request for the purposes of identity verification and the detection of money laundering, terrorist financing, fraud, or any other financial crime and permit us to keep a record of such information. You will need to complete certain verification procedures before you are permitted to use the Services and your access to the Services may be altered as a result of information collected on an ongoing basis. The information we request may include certain personal information, including, but not limited to, your name, address, telephone number, e-mail address, date of birth, government identification number, and information regarding your bank account (such as the name of the bank, account number and IFSC code). You agree to update this information and keep it current at all times. You authorize us to make the inquiries, whether directly or through third parties, that we consider appropriate, in our sole discretion, to verify your identity or protect you and/or us against fraud or other financial crimes, and to take action we reasonably deem necessary based on the results of such inquiries.
Account Responsibilities:
The user is solely responsible for the security of their credentials, such as account login information, and for any activities that occur under their Account, as well as all legal implications. You undertake to alert us immediately of any unauthorized or suspected illegal use of your Account, as well as any other security violation. ArthBit will not be held liable for any loss or damage caused by your failure to follow the instructions.
2. ACCESSING OR USING TO THE SERVICES
ArthBit grants you a non-transferable, non-exclusive, revocable, limited license to use and/or access the Services at your own personal or internal business purposes, in accordance with the Account type you are currently subscribing to. . ArthBit reserves the right, at any time, to modify, suspend, or discontinue the Services (in whole or in part) with or without notice to you. You agree that ArthBit will not be liable to you or to any third party for any modification, suspension, or discontinuation of the Services or any part thereof. You acknowledge and agree that ArthBit will have no obligation to provide you with any support or maintenance in connection with the Services.
3. Prohibited or Banned/Illegal Activities
In connection to use our Services, you hereby agree that you will not:
• violate (or assist any other third party in violating) any applicable law, regulation, statute, or ordinance;
• intentionally try to defraud (or assist in the defrauding of) ArthBit or any other User;
• supply/provide/circulating any false, unauthentic, incorrect, or misleading information;
• trade taking advantage of any technical glitch, malfunction, failure, delay, default, or security breach;
• take any action that interferes with, intercepts, or expropriates any system, data, or information;
• partake in any transaction involving the proceeds of illegal activity;
• attempt to gain unauthorized access to other ArthBit Accounts, the Services, or any related networks or systems;
• use the Services on behalf of any third party or otherwise act as an intermediary between ArthBit and any third parties;
• use the Services to engage in conduct that is detrimental to ArthBit or to any other User or any other third party;
• collect any user information from other Users, including, without limitation, email addresses;
• defame, harass, or violate the privacy or intellectual property rights of ArthBit or any other User;
• hack other users' data.
• upload or transmit any messages, photos, videos, or other media that contain illegal goods, pornographic, violent, obscene, or copyrighted images or materials for use as an avatar, in connection with a payment or payment request;
• not to upload, send, or distribute any computer viruses, worms, or other software that is intended to harm or change a computer system or data to or through the Services;
• attempting to decompile, disrupt, or interfere with the functionality of our system, any third-party use of the Services, or any third-party data contained in the Services.
• use the Services to develop a rival product or service, or to replicate any ideas, functionality, or images.
4. ARTHBIT WALLET
Supporting Cryptocurrencies
ArthBit wallet allows you to receive, send and store cryptocurrency (together, “Wallet Transactions”). The ArthBit wallet is only available in relation to the cryptocurrencies that ArthBit is supporting (“Supported Cryptocurrency” or “Supported Cryptocurrencies”). The Supported Cryptocurrencies may change from time to time. In any circumstances you shouldnot attempt to carry out a ArthBit wallet Transaction in relation to a cryptocurrency other than a Supported Cryptocurrency.
Transaction instructions
ArthBit will process Wallet Transactions according to your instructions. You accept and agree that ArthBit does not:
• guarantee the identity of any user, receiver, or other party to a ArthBit Wallet Transaction. You are only responsible for ensuring all transaction details are correct, and you should carefully verify all transaction information prior to submitting transaction instructions to ArthBit; or
• have any control over, or any liability in relation to, the delivery, quality or any other aspect of any services that you may buy from or sell to any third party. ArthBit shall not be responsible for, and will not take any action in relation to, ensuring that any buyer or seller you transact with using your ArthBit wallet completes the relevant transaction or has the requisite authority to do so.
Receiving cryptocurrency
You may receive Supported Cryptocurrency into your ArthBit wallet by providing the sender with a receiving address generated in your ArthBit wallet. Your ArthBit wallet will only be credited with Supported Cryptocurrency sent to a receiving address generated through your ArthBit wallet and associated with that Supported Cryptocurrency. For example, your ArthBit wallet will be credited with BNB when it is sent to an BNB receiving address generated through your ArthBit wallet.
5. THE ARTHBIT PAIRS
ArthBit enables Users to trade with each other in trading pairs and use balances which are denominated notionally in Indian Rupees only for convenience in order to enable Users to calculate the value of the relevant Supported Cryptocurrency being traded (“ArthBit Pairs”). Any reference to Indian Rupees or INR on ArthBit should not be construed as a reference to Indian Rupees amounting to legal tender (otherwise referred to as ‘fiat currency’ or ‘real money’) unless specifically provided herein.
Terms applicable to Indian Resident Users for ArthBit Pairs
Users resident in India (as defined under the Foreign Exchange Management Act, 1999) add to their INR balance by depositing Indian Rupees from their registered bank account / payment instrument to PAY365 or its partners’ bank account using regulated banking and payment channels, and can redeem their INR balance to their bank accounts / payment instrument by placing a withdrawal request to PAY365, upon which request PAY365 will transfer the INR balance amount to the Users’ registered bank account / payment instrument, using regulated banking and payment channels, subject to Know Your Customer and other safeguards carried out in PAY365’s sole discretion, and subject to withdrawal limits published on the website / mobile application from time to time. In this model, PAY365 merely acts as a duly appointed agent of the User to whom the payment is due, and does not operate a payment system. You hereby duly appoint PAY365 as your agent for this purpose.
Terms applicable to Non-Indian Resident Users for ArthBit Pairs
In all circumstances, Users not resident in India (as defined under the Foreign Exchange Management Act, 1999) (“Foreign Users”) can use limited features of the Services. Foreign Users cannot in any circumstance receive or make payments in Indian Rupees or equivalents or any other fiat currency or equivalents (referred as ‘real money’ or ‘fiat currency’). Foreign Users can only use the Services to trade between Supported Cryptocurrencies without any interface to fiat currency. Foreign Users are not entitled to redeem any INR balance with ArthBit for Indian Rupees (unlike Users resident in India who may withdraw their INR balance to their bank accounts) or any other fiat currency. The INR balance of a Foreign User is only denoted on the platform for convenience and can only be used by a Foreign User to further trade in Supported Cryptocurrencies. Foreign Users do not therefore carry out any transactions in fiat currency using the Services and merely hold Supported Cryptocurrencies in their ArthBit wallets and trade between Supported Cryptocurrencies.
6. FEES.
General
You agree to pay ArthBit the fees set forth at https://ArthBit.com/fees which may be updated from time to time in our sole discretion. Any such updated fees will apply prospectively to any trades or other transactions that take place following the effective date of such updated fees. You authorize ArthBit to remove any amounts from your Account for any applicable fees owed by you under this Agreement.
Withdrawal / Send fees
You may be charged a fee to send or withdraw a Supported Cryptocurrency from your ArthBit wallet. We currently do not charge fees to deposit or receive Supported Cryptocurrency into your ArthBit wallet.
Service fees
ArthBit applies a Maker / Taker fee structure for customers who trade Supported Cryptocurrency using the Services. Please consult the page set forth at https://ArthBit.com/fees for further information on applicable Maker and Taker fees. ArthBit will, at the time of any transaction on the ArthBit Exchange, notify you of any fees that will apply to the transaction. By proceeding with any transaction, you accept and agree to the applicable fees. Such fees will also be displayed in your transaction history upon completion of the transaction.
7. SUSPENSION, TERMINATION, AND CANCELLATION.
General
This Agreement will continue to apply to you until terminated by either you or ArthBit. Any provision of this Agreement which, either by its terms or to give effect to its meaning, must survive, and such other provisions which expressly, or by their nature, are intended to survive termination shall survive the expiration or termination of this Agreement.
Suspension, Termination
We may terminate your Account or suspend your access to the Services at any time and with immediate effect for any reason or no reason, in our sole and absolute discretion. We may decline to process any deposit or withdrawal without prior notice and may limit or suspend your use of one or more Services at any time, in our sole discretion. If you have a balance remaining in an Account which has been suspended, we may freeze such balance for so long as the Account is suspended. If the Account is terminated due to fraud, violation of law, or violation of this Agreement, ArthBit may, in its discretion, confiscate any balance remaining in the Account and deliver it to any applicable government, law enforcement, or other authorities where circumstances warrant.
Cancellation
You may cancel your Account at any time by withdrawing all balances and sending us a message through the contact page requesting the cancellation of your Account. Upon termination of this Agreement and your Account, you remain liable for all transactions made while the Account was open.
8. INDEMNIFICATION
You agree to indemnify and hold ArthBit (and its officers, employees, and agents) harmless including costs and attorneys’ fees, from any claim or demand made by any third party due to or arising out of your,
a)Use of the servic service
b)Violation of this agreement
c)Violation of applicable Laws and Regulation and Regulation or regulations
d)Third-party services
ArthBit reserves the right at your expense to assume the defense, authority, and control of any matter for which you are required to indemnify us and you agree to cooperate with our defense. You agree not to settle any dispute without the prior written consent of the ArthBit. We will use our best efforts to notify you of any such claim, action, or proceeding upon becoming aware of it.
9. NO FINANCIAL ADVICE
ArthBit is not an intermediary, agent, broker, or advisor and has no fiduciary relationship or obligation to you in connection with any trades or other decisions or activities affected by you using ArthBit services. Investment advice, financial advice and trading advice, or any other type of advice are not intended or shall be regarded or constructed as a result of any communication or information provided to you by ArthBit. All trades are completed automatically unless otherwise specified in these terms based on the parameters of your order instructions.
You are solely responsible for deciding whether any investment, or investment strategy, or related transaction is suitable for you based on your personal investment objectives, financial circumstances, and risk tolerance, and you shall be solely responsible for any loss or liability resulting therefrom in accordance with posted Trade execution procedures. You should seek legal or tax advice concerning your specific circumstances.
ArthBit does not propose that you purchase, earn, sell, or hold any digital asset. Before purchasing, selling, or holding any digital asset. Prior to making any investment choice, you should conduct your own research and consult with your financial experts. ArthBit will not be held liable for any decisions you make based on the information supplied by ArthBit to buy, sell, or hold digital assets.
10. COMPLIANCE WITH LAWS AND REGULATION
It is the users obligation to follow local Laws and Regulation regarding the lawful use of ArthBit services in their jurisdiction, as well as any other applicable Laws and Regulation. Users must additionally consider all issues of taxation, withholding, collection, reporting, and remittance to their proper tax authorities, to the level local Laws and Regulation allow.
ALL ARTHBIT SERVICES USERS ACKNOWLEDGE AND PROCLAIM THAT THEIR FUNDS COME FROM LEGAL SOURCES AND DO NOT ORIGINATE FROM CRIMINAL ACTS. USER AGREE THAT ARTHBIT WILL NECESSITATE THEM TO DO SO OR OTHERWISE COLLECT THE REQUISITE INFORMATION AND MATERIALS AS NEEDED BY RELEVANT LAWS AND REGULATION AND REGULATION OR GOVERNMENT ORDERS TO CONFIRM THE LEGAL.
ArthBit maintains a cooperative approach with law enforcement authorities around the world, and will not refuse to seize, or delete users’ accounts and funds if they are detected or investigated by a legal requirement.
The laws of India excluding its choice of law provisions, will govern these Terms and any dispute that arises between you and PAY365.
ArthBit is not responsible for damages caused by delay or failure to perform undertakings under this Agreement when the delay or failure is due to fires; strikes; floods; power outages or failures; acts of God or the state’s enemies; lawful acts of public authorities; any and all market movements, shifts, or volatility; computer, server, or Internet malfunctions; security breaches or cyberattacks; criminal acts; delays or defaults caused by common carriers; acts or omissions of third parties; or, any other delays, defaults, failures or interruptions that cannot reasonably be foreseen or provided against. In the event of force majeure, ArthBit is excused from any and all performance obligations and this Agreement shall be fully and conclusively at an end.
11. E-Communication
The communications between you and ArthBit use electronic means, whether you use the Site or send us emails, or whether ArthBit posts notices on the Site or communicates with you via email or any other social media platforms. For contractual purposes, you (a) consent to receive communications from ArthBit in an electronic form; and (b) agree that all terms and conditions, agreements, notices, disclosures, and other communications that ArthBit provides to you electronically satisfy any legal requirement that such communications would satisfy if it were be in a hardcopy writing. The foregoing does not affect your non-waivable rights.
12. The Agreement.
This Agreement, together with ArthBit’s Privacy Policy, constitute the entire agreement between you and us regarding the use of the Services. Our failure to exercise or enforce any right or provision of this Agreement shall not operate as a waiver of such right or provision. The section titles in this Agreement are for convenience only and have no legal or contractual effect. The word “including” means “including without limitation”. If any provision of this Agreement is, for any reason, held to be invalid or unenforceable, the other provisions of this Agreement will be unimpaired and the invalid or unenforceable provision will be deemed modified so that it is valid and enforceable to the maximum extent permitted by law. Your relationship to ArthBit is that of an independent contractor, and neither party is an agent or partner of the other. This Agreement, and your rights and obligations herein, may not be assigned, subcontracted, delegated, or otherwise transferred by you without ArthBit’s prior written consent, and any attempted assignment, subcontract, delegation, or transfer in violation of the foregoing will be null and void. ArthBit may freely assign this Agreement. The terms and conditions set forth in this Agreement shall be binding upon assignees.
13. LIMITATION ON LIABILITY
To the maximum extent permitted by applicable law, in no event will ArthBit, its affiliates and their respective shareholders, members, directors, officers, employees, agents, representatives, suppliers or contractors be liable for any incidental, indirect, special, punitive, consequential or similar damages or liabilities whatsoever (including, without limitation, damages for loss of data, information, revenue, profits or other business or financial benefit) arising out of or in connection with the services, any performance or non-performance of the services, or any other product, service or other item provided by or on behalf of ArthBit and its affiliates, whether under contract, statute, strict liability or other theory even if ArthBit has been advised of the possibility of such damages except to the extent of a final judicial determination that such damages were a result of ArthBit’s gross negligence, fraud, willful misconduct or intentional violation of law. Some jurisdictions do not allow the exclusion or limitation of incidental or consequential damages, so the above limitation may not apply to you.
Notwithstanding the foregoing, in no event will the liability of ArthBit, its affiliates and their respective shareholders, members, directors, officers, employees, agents, representatives, suppliers or contractors arising out of or in connection the services, any performance or non-performance of the services, or any other product, service or other item provided by or on behalf of ArthBit or its affiliates whether under contract, statute, strict liability or other theory, exceed the amount of the fees paid by you to ArthBit under this agreement in the twelve-month period immediately preceding the event giving rise to the claim for liability.
14. DISCLAIMERS
The services are provided on an “as available” basis, and ArthBit expressly disclaims any and all warranties and conditions of any kind, whether express, implied, or statutory, including all warranties or conditions of merchantability, fitness for a particular purpose, title, quiet enjoyment, accuracy, or non-infringement. We (and our suppliers) make no warranty that the services will meet your requirements, will be available on an uninterrupted, timely, secure, or error-free basis, or will be accurate, reliable, free of viruses or other harmful code, complete, legal, or safe. If applicable law requires any warranties with respect to the site, all such warranties are limited in duration to ninety (90) days from the date of first use. ArthBit disclaims any and all responsibility or liability in relation to the content made available through the services, including the customer content, or any content or services provided by third parties. ArthBit does not control or vet customer content and is not responsible for what users post, transmit, or share on or through the services. ArthBit is not responsible or liable in any manner for any third-party services.
Associated with or utilized in connection with the services, including the failure of any such third-party services or supported platforms.
Some jurisdictions do not allow the exclusion of implied warranties, so the above exclusion may not apply to you. Some jurisdictions do not allow limitations on how long an implied warranty lasts, so the above limitation may not apply to you.